Emirates NBD issues crypto investment warning by CoinQuora


Bank of Dubai: Emirates NBD issues crypto investment warning
  • Dubai’s bank Emirates NBD has issued a warning against crypto investments.
  • The bank issued the warning in its recent mid-year update.
  • In addition, the bank cited high volatility and market uncertainty as the main risk factors.

Dubai-based Emirates NBD Bank (ENBD) has warned customers against crypto investments. Notably, the bank issued the warning during its recent update webinar.

Additionally, the warning was due to the volatile nature of BTC and other cryptos. In fact, Georgio Borelli, head of the bank’s asset allocation and quantitative strategies, said: “The volatility of digital currencies must abate for its wider adoption in finance.”

The banker added that for institutional investors and fund managers to embrace crypto, the high level of volatility must first subside. However, Borelli also accepted that the volatility and risky nature of crypto is part of its appeal. Borelli made the comments during the bank’s Global Investment Outlook 2021 webinar.

However, despite the high volatility, the use of crypto has increased this year. In…

Continue reading on CoinQuora

Warning: Fusion media would like to remind you that the data contained in this site is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but rather by market makers. Therefore, the prices may not be exact and may differ from the actual market price, which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of such data.

Fusion media or anyone involved with Fusion Media will accept no responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.


Source link